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Fund Balance

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High Chicago Debt Burden Contributes To City's Fiscal Challenges

The City of Chicago currently faces mounting fiscal challenges, with a projected FY2025 budget gap of $982.4 million. A significant contributor to the City’s rising costs is its rising debt burden over time. More information about the City…

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Civic Federation Urges Linking Transit Governance Reform With Funding, Calls for Consolidation of Transit Services in Northeastern Illinois

The Civic Federation today released a position paper calling on the Illinois General Assembly to pursue foundational structural reform of Northeastern Illinois’ mass transit systems—…

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Civic Federation Urges Linking Transit Governance Reform With Funding, Calls for Consolidation of Transit Services in Northeastern Illinois

With Northeastern Illinois’ transit agencies facing an estimated $730 million fiscal cliff in FY2026, the Civic Federation calls on the Illinois General Assembly to consolidate the Regional Transportation Authority, Chicago Transit…

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Reforming Mass Transit Governance in the Chicago Region

Click here to read the full report.…

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GFOA Recommends Governments Rethink Their Reserve Policies

The Government Finance Officers Association (GFOA) recently published a report entitled Should We Rethink Reserves? A…

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Cook County Unrestricted General Fund Balance at $869.1 million in FY2021

Fund balance is a term used to describe the net assets of a governmental fund and serves as a measure of budgetary reserves.[1] In FY2021, the last year for which audited financial information is…

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Funding Status of the Chicago Teachers’ Pension Fund

This blog post examines the Chicago Public Schools’ contributions to the Chicago Teachers’ Pension Fund in the FY2023 budget and the funding status of the Pension Fund based…

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Chicago Public Schools’ Operating Reserves Continue to Improve

The Civic Federation recently released its analysis of the Chicago Public Schools proposed FY2023…

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Civic Federation Supports Cook County's FY2019 Budget

(CHICAGO) In a report released today, the Civic Federation announced support for Cook County’s proposed FY2019 budget. The $5.9 billion budget proposal is structurally balanced without raising new taxes and continues the practice of making…

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Cook County FY2019 Executive Budget Recommendation: Analysis and Recommendations

Click here to read the full report. The Civic Federation supports Cook County’s proposed FY2019 budget of $5.9 billion…